Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

Reveal Navigation

Geithner ‘Deeply Offended’ by Barofsky Claims Geithner ‘Deeply Offended’ by Barofsky Claims Geithner ‘Deeply Offended’ by Barofsky Claims Geithner ‘Deeply Offend...

share
This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Homepage / White House

Geithner ‘Deeply Offended’ by Barofsky Claims

Treasury Secretary Timothy Geithner(Manuel Balce Ceneta/AP)

photo of Lara Seligman
July 24, 2012

Treasury Secretary Timothy Geithner responded to accusations by a former inspector general for the Troubled Asset Relief Program that the administration’s program devoted to the mortgage crisis was merely “foaming the runway” for Wall Street at the expense of the average American, saying he was “deeply offended” by those claims.

Treasury’s inspector general for the $700 billion TARP, Neil Barofsky, is out with a new book that maintains the financial bailout program’s funds were “hijacked by the interests of a small group of powerful Wall Street banks.” He blames Geithner, in particular, for the mishandling of the program.

“I find that deeply offensive,” Geithner told Charlie Rose in an interview that aired on Tuesday on CBS’s This Morning. He defended TARP: “We pulled the economy back from the abyss, stabilized the system, and got the economy growing again. Those things were absolutely necessary. There was no alternative.” 

 

CORRECTION: An earlier version of this story incorrectly stated TARP’s final cost to taxpayers. It was $50 billion. The story also misspelled Neil Barofsky's name.

You May Find These of Interest
Get us in your feed.
Job Board
Search Jobs
Project Manager II
American Society of Civil Engineers | Memphis, TN
Structural Engineer
American Society of Civil Engineers | Chicago, IL
Engineering Manager
American Society of Civil Engineers | Springfield, VA
Mechanical Engineer - Dallas, TX
American Society of Civil Engineers | Dallas, TX
Concrete Testing Technician & Special Inspectors
American Society of Civil Engineers | New York, NY
Manager of Engineering
American Society of Civil Engineers | Berkeley, CA
Structural Engineer
American Society of Civil Engineers | Orlando, FL
Engineer
American Society of Civil Engineers | Lake Charles, LA
Watershed Resources Specialist
American Society of Civil Engineers | San Francisco, CA
Outside sales.
American Society of Civil Engineers | San Francisco, CA
Mgr, Corp Qual Technology
American Society of Civil Engineers | Fort Worth, TX
Administrative Assistant
American Society of Civil Engineers | Cleveland, OH
Project Engineer
American Society of Civil Engineers | Atlanta, GA
Instrumentation and Controls Engineer â?? Gainesville, FL US
American Society of Civil Engineers | Gainesville, FL
VP, Engineering & Construction
American Society of Civil Engineers | Boston, MA
 
Comments
comments powered by Disqus